KWEICHOW MOUTAI(SH:600519) 21世纪经济报道·2026-01-14 01:42Core Viewpoint - The article discusses the significant changes in the pricing strategy of Kweichow Moutai, indicating a shift towards a market-oriented pricing mechanism that allows for dynamic adjustments based on supply and demand, moving away from the fixed "guidance price" model [1][2][4]. Pricing Mechanism Changes - Kweichow Moutai has announced a new market-oriented pricing strategy that will allow for dynamic adjustments to retail prices, moving away from the long-standing fixed price of 1499 yuan for the 53-degree 500ml Flying Moutai, which has been in place for eight years [1][2][4]. - The new pricing mechanism aims to reflect current market conditions, with the potential for prices to rise above the previous fixed price, which had been influenced by market demand and supply dynamics [2][5]. Retail and Distribution Adjustments - The announcement includes a detailed plan for the retail pricing of 15 Moutai products, indicating that prices will now be closely aligned with current market prices rather than a fixed guidance price [1][4]. - The new pricing strategy will also impact the distribution model, allowing for a more flexible approach where the contract prices for distributors will be based on the new retail prices, which will also be subject to dynamic adjustments [6][7]. Profitability and Market Control - The shift to a dynamic pricing model is expected to enhance Moutai's profitability by allowing the company to capture more of the profit margin that had previously been lost to distributors and market fluctuations [5][6]. - The new strategy aims to regain control over pricing, which had been influenced by external market pressures and third-party pricing platforms, thereby allowing Moutai to better manage its brand and market positioning [2][5][6]. Channel Strategy - Moutai's new approach includes a dual-channel strategy that combines direct sales with social distribution, ensuring that both channels can operate effectively without undermining each other [10]. - The company is implementing a tiered channel structure that allows distributors to choose between traditional sales models and newer consignment or agency models, which will provide them with more flexibility and reduced risk [9][10]. Future Considerations - While the new pricing strategy is a significant step forward, there are still concerns regarding how Moutai will respond to potential market downturns and whether the dynamic pricing will adequately reflect changes in demand [10].